News
Industry reacts to government motor task force
The wider insurance market has given a mixed reaction to the UK government’s motor task force, with its industry-led approach questioned, but experts note it is a step forward.
FCA launches review into premium finance “fair value” and barriers to competition
The Financial Conduct Authority has launched a review, known as a competition market study, to see whether people who borrow to pay for motor and home insurance are receiving fair, competitive deals.
Government announces motor insurance task force to tackle “spiralling costs”
The Government has announced a new cross-government motor insurance task force, supported by industry experts, to tackle what it claims is “the spiralling costs of car insurance”.
Ex-Simply Business boss Jason Stockwood named as NED at Ripe
Companies House has confirmed the appointment of former Simply Business group CEO Jason Stockwood as non-executive director of managing general agent Ripe.
SRG buys in Singapore as it starts Asia expansion
Specialist Risk Group has acquired HL Suntek Insurance Brokers based in Singapore, subject to customary closing conditions, to spearhead its expansion into Asia.
CII institute pushes back into the operating black
The institute arm of the Chartered Insurance Institute Group returned to operating profit in 2023 with a £745,000 surplus after three years of red ink.
Third quarter of car insurance price falls – WTW/Confused
Comprehensive car insurance premiums have now dropped year-on-year after a third consecutive quarterly fall in prices, according to the latest findings by WTW and Confused.
Chubb launches construction industry practice
Chubb has launched a construction industry practice in the UK and Ireland ready to trade locally with brokers across its branch network as it also unveiled a new product for the sector.
Energy MGA Volt powers up
Volt Underwriting, a London-based MGA formed to support clients active in the energy transition sector, has launched with initial capacity of $25m (£19.14m) for international and US onshore power and renewable energy risks.
Ardonagh completes PSC buy
Ardonagh has closed the deal for PSC Insurance Group in a move which includes bolstering its advisory business with a Top 100 UK broker.
People Moves: 7 – 11 October 2024
Keep up to date with the latest insurance industry personnel moves.
Ageas and Saga in £207.5m deal talks
Ageas has entered exclusive negotiations with Saga on a 20-year affinity partnership and buying Acromas in a package worth up to £207.5m.
Academy owner buys Airsports Insurance Bureau
Beyond Doubt Holdings, which operates as Academy and Premierline, has purchased Hampshire-based Airsports Insurance Bureau.
Broker stress levels hit six-year high
Two in five brokers have reported stress levels as high or very high, the record since Ecclesiastical’s annual Broker Wellbeing Survey was launched in 2019.
TBIG-backed Beam buys Julie Price & Co
JPM Group, trading as Beam Insurance Solutions, has bought Hinkley-based £2m gross written premium broker Julie Price & Co.
NBS launches unoccupied commercial property insurance
NBS Underwriting has launched an unoccupied commercial property insurance product, expanding its portfolio.
Towergate Health & Protection grows employee benefits business
Towergate Health & Protection has expanded its employee benefits business with the acquisition of Benefiz.
Markerstudy promotes Emma Rawlinson to CIO
Emma Rawlinson has been promoted to the newly created role of chief investment officer at Markerstudy Group.
BMS expands apprenticeship programme to nine
BMS has grown its early careers apprenticeship programme in London with nine new school and college leavers.
Addept Insurance boosts capacity for double product launch
Addept Insurance Services has partnered with Ortus Underwriting with underwriting capacity provided by Great American International Insurance (UK).
JMG adds Grosvenor Insurance
Chester-based Grosvenor Insurance has joined the JMG Group.
RSA and NIG to offer single product set in H1 next year
RSA and NIG has completed a “broad reconciliation” from a product and wording perspective and is committed to offering a "single product set in the first half of next year", according to Laura Fox, distribution development director.
People Moves: 30 September – 4 October 2024
Stay in the loop with the latest personnel moves in insurance.
Howden parades beauty membership providers buy
Howden has unveiled the purchase of Associated Beauty Therapists and Associated Irish Therapists, two beauty membership providers that offer insurance broking services to members operating in the health, wellbeing and beauty sectors in the UK and Ireland.